Seaview Investment Managers LLC Makes New $8.08 Million Investment in Nucor Corporation $NUE

Seaview Investment Managers LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 49,546 shares of the basic materials company’s stock, valued at approximately $8,081,000. Nucor accounts for about 3.0% of Seaview Investment Managers LLC’s investment portfolio, making the stock its 17th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stance Capital LLC bought a new stake in shares of Nucor during the 3rd quarter valued at $25,000. AXS Investments LLC bought a new stake in shares of Nucor during the 3rd quarter valued at $37,000. Vision Financial Markets LLC raised its position in shares of Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Ares Financial Consulting LLC bought a new stake in shares of Nucor during the 4th quarter valued at $45,000. Finally, Caitlin John LLC bought a new stake in shares of Nucor during the 3rd quarter valued at $41,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Down 0.0%

NYSE NUE opened at $231.99 on Tuesday. The firm has a 50 day simple moving average of $197.40 and a 200-day simple moving average of $178.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor Corporation has a one year low of $106.21 and a one year high of $235.45. The firm has a market cap of $52.83 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 0.62 and a beta of 1.87.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts anticipate that Nucor Corporation will post 14.58 EPS for the current fiscal year.

Nucor declared that its board has approved a stock repurchase program on Friday, February 20th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 12,888 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the completion of the transaction, the executive vice president owned 89,724 shares in the company, valued at $20,277,624. The trade was a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the transaction, the executive vice president owned 50,377 shares of the company’s stock, valued at $11,410,390.50. This trade represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 71,818 shares of company stock worth $16,234,593 over the last ninety days. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NUE. CICC Research began coverage on shares of Nucor in a research report on Monday. They set an “outperform” rating on the stock. BMO Capital Markets raised their price objective on shares of Nucor from $196.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and raised their price objective for the company from $190.00 to $224.00 in a research report on Tuesday, April 28th. BNP Paribas Exane raised their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.50.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.